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Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
 Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dry Index (BDI) to plunge by almost 30% in a month, ending the week at 2,694 points, down 90 on a daily basis. The index had rallied at more than 4,000 points just a few weeks, sparking renewed investment interest by ship owners. But, as most have realized by now, volatility will remain the norm for the market as the year progresses, with the so called “China factor” proving to be even more crucial for the market’s behavior.
According to Weberseas’ latest weekly report, “the expected mid-summer correction continued this week, affecting all sizes, but in particular the larger sizes with the capesize and panamax. However not to forget that China and Taiwan were on holiday from Monday to Wednesday this week made matters worse. On the other hand, positive news are coming from China where the country's net coal imports are expected to reach a huge 170 million tonnes this year. The same figure for 2009 was 103 million tonnes so this year we could see a jump in coal imports by as much as 65%. And why is this important news? Simply because China's energy consumption comes mostly from coal - in 2009 alone coal accounted for nearly 70% of the country's total energy consumption. Thus, coal movements into China will increase and this will be reflected in freight rates” said Weberseas.
Reflecting on Chinese economy and more interestingly for dry bulk ship owners on the steel industry, Commodore Research issued its monthly report on the subject, saying that “Chinese crude steel production set another new monthly record in May - but fears of an impending economic slowdown coming to China persist. China produced 56.17 million tons of crude steel in May, an increase of 770,000 tons (1%) from the previous monthly record of 55.4mt produced in April. Despite another month of record setting crude steel production, many market observers continue to expect that rapid economic growth in China will soon decrease.
Concerns are flooding the financial and shipping markets that recent government policies aimed at restricting bank lending and slowing the swift rise in real estate prices will drastically reduce economic growth in China. We believe that these fears are valid but anticipate Chinese economic growth will maintain robustness for the foreseeable future, even if lending moderates and real estate prices become less robust. Any decline in growth is expected to be small, and moderate lending and firm industrial demand and consumer spending are expected to continue. We do believe, however, that Chinese steel output will decrease in the short-term from an extremely robust level of current production” said the report.
It went on to state that Chinese steel prices remain under pressure and steel mills have begun to announce short-term production cuts and “maintenance” that will slow some blast furnaces. “Chinese steel stockpiles have decreased from a month ago, though, with stockpiles of flat and construction steel products now totaling about 15.2 million tons, a decrease of 300,000 tons (-2%). Current stockpiles are 3.38mt (-18%) lower than the record 18.58mt of steel stockpiled in the beginning of March. Chinese steel output is therefore still expected to remain strong even though output is likely to decline this month as steel producers react to falling prices. Chinese steel exports continue to reach monthly volumes not seen since 2008. China exported 4.94 million tons of steel in May, an increase of 630,000 tons (15%) from the 4.31mt exported in April. In the first five months of 2010, Chinese steel exports have averaged 3.59mt per month, an increase of 1.54mt (75%) from 2009‘s monthly average of 2.05mt. A steady increase in global steel demand continues to contribute to robust Chinese steel production” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- The University of Queensland
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
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